Many people starting out in overseas forex trading are probably wondering things like, "Which overseas forex brokers are recommended and support MT5?" or "Which should I choose, MT4 or MT5?"
MT5 (MetaTrader5) is the latest version of the "MetaTrader" series, a trading platform used by traders worldwide. Its operating speed and analytical capabilities have been significantly improved from MT4, andits developer, MetaQuotes Inc., has shifted its development focus to MT5, MT5 is the top choice for anyone starting out in overseas forex trading.
In this article,Top 10 Recommended Overseas Forex Brokers Compatible with MT5: A Ranking ComparisonI will introduce them to you. I will also explain the differences between MT4 and MT5, as well as the advantages and disadvantages of MT5, so please use this as a reference
Conclusion | Key points for choosing an overseas forex broker that supports MT5
- Almost all major overseas forex brokers support MT5 (as of August 2026, based on individual checks of 10 companies' official websites).FXGT's Optimus account andAXIORY's Terra Alpha account, are increasingly becoming MT5-exclusive, indicating that MT5 is becoming the mainstream.
- For overall strength,HFM(all accounts support MT5, starting with small amounts) is acontender; for unlimited leverageExness; and for cryptocurrency trading using MT5,FXGTis a good option
- The criteria for selection aresafety x leverage x trading costs x Japanese support. Trading costs can be further reduced by using cashback sites in conjunction.
*This article was created by the MoneyCharger editorial team in accordance with our content creation policy , by individually checking the MT5 compatibility status and account specifications on each broker's official website (as of August 2026). Trading conditions, bonuses, and supported platforms may change, so please be sure to check the latest information on each broker's official website. For precautions regarding the use of overseas FX brokers, please also check the information published by the Financial Services Agency , and for consumer troubles, please check the information published by the Consumer Affairs Agency
Beginners in overseas forex trading are strongly encouraged to read the Complete Guide to Overseas Forex Trading for Beginners
Recommended Overseas Forex Brokers Compatible with MT5: Comparison Chart
We've ranked and compared the top 10 recommended FX companies (overseas securities companies/FX brokers) that support MT5 (as of August 2026; compatibility was individually checked on each company's official website)
| Rank | Overseas Forex Brokers | MT5 compatible | Maximum leverage | Details and account opening |
|---|---|---|---|---|
| 1st place |  HFM | ○ (All accounts) | 2,000 times | Manecha'sHFMpage |
| 2nd place |  FXGT | ○ (All accounts. Optimus accounts are MT5 only.) | 5,000x leverage (Optimus and FX Major only) | MoneyChat'sFXGTpage |
| 3rd place |  Exness | ○ (Available for most accounts) | Unlimited (with conditions) | Manecha'sExnesspage |
| 4th place |  Vantage | ○ | 2,000x leverage (Premium account) | Manecha'sVantagepage |
| 5th place |  XMTrading | ○ (Default for initial account) | 1,000 times | XM CB Guide |
| 6th place |  AXIORY | ○ (Zero/Tera/Alpha Accounts) | 1,000x (MAX account offers 2,000x) | Manecha'sAXIORYpage |
| 7th place |  BigBoss | ○ | 2,222x (Deluxe Account) | Manecha'sBigBosspage |
| 8th place |  ThreeTrader | ○ | 1,000 times | MoneyChat'sThreeTraderpage |
| 9th place |  TitanFX | ○ (All accounts) | 1,000x leverage (2,000x leverage for micro accounts) | MoneyChat's TitanFX page |
| 10th place |  Monaxa | ○ | 2,000x (low volatility stocks) | Monaxapage on Manecha |
All 10 companies support MT5, and in terms of leverage limits,Exnessoffers the highest with conditional unlimited leverage, followed byFXGT's Optimus account (5,000x leverage, limited to major FX brokers)
The brokers featured here are highly ranked in our ranking of popular and recommended overseas forex brokers, based on actual customer reviews
Before we look at the details of each broker, let's first understand what kind of trading platform MT5 is
What is MT5 for overseas forex trading? How does it differ from MT4?
MT5 is an abbreviation for "MetaTrader 5," an FX trading platform released in 2010 by MetaQuotes Software. It is used by FX brokers worldwide and is used for trading a wide range of financial instruments in addition to FX, including stocks, ETFs, cryptocurrencies, and CFDs
First, I will explain the overview of MT5 and how it differs from MT4
A clear explanation of MT5's features and functions
MT5 was developed as the successor to MetaTrader4 (MT4), which was used by traders all over the world, and features overall improvements such as operating speed, timeframe options, and order book information
[History of MetaTrader]
| Name of trading tool | Release year | overview |
|---|---|---|
| MetaTrader (first generation) | 2000 | It appeared as an FX chart from MetaQuotes |
| MetaTrader (2nd generation) | 2001-2002 | Popular among brokers, and becoming more feature-rich |
| MetaTrader (3rd generation) | 2003 | A dedicated programming language, "MQL," has been introduced |
| MetaTrader 4 (MT4) | 2005 | The ability to create automated trading systems (EAs) has led to their widespread adoption globally |
| MetaTrader 5 (MT5) | 2010 | The current latest version addresses the issues of MT4 |
Reference:The Story Of MetaTrader And The Developer, "MetaQuotes" - WikiFX
MT4, which allows users to create automated trading systems (EAs) and custom indicators, has spread to institutional investors and individual traders worldwide through FX brokers. MT5 further enhances its sophistication, and in Japan, FX brokers such as Rakuten Securities and OANDA Securities have adopted MetaTrader
Differences between MT4 and MT5
I've summarized the differences between MT4 and MT5 in a comparison table
| Comparison items | MT4 (2005-) | MT5 (2010~) |
|---|---|---|
| Operating speed | Normal (32bit) | Fast (64-bit) |
| Types of timeframes | 9 types | 21 types |
| Standard indicator | Approximately 30 types | 38 types |
| Custom Indicators/EAs | Abundant (accumulated over many years) | Less than MT4 |
| Board information | none | can be |
| Economic Indicators Calendar | none | can be |
| Separate display of charts | I can't | can |
| update | The addition of new features has ended | Ongoing |
| Customer support from overseas forex brokers | Most major brokers support this (depending on the account type). | Support is becoming mainstream (MT5-only accounts are also increasing). |
Advantages of MT5 over MT4
The main advantages of MT5 over MT4 are as follows:
- Fast operation speed and low lag
- A wide variety of timeframes are available (9 types → 21 types)
- The display of bid/ask prices and order book information is comprehensive
- Many indicators are included as standard
- It is constantly updated, allowing you to use the latest features
The biggest appeal of MT5 is that its charting and backtesting functions, among other features, are significantly more convenient than those of MT4MetaQuotes, the developer, also recommends migrating to MT5No new features have been added to MT4 in recent updates
The same trend is progressing on the broker side as well. As of August 2026, a check of each company's official website revealed thatFXGT's Optimus account,AXIORY's Terra account and Alpha account,IS6FX's 2000x leverage account are increasingly becoming MT5-exclusive.
On the other hand, MT4 has a wealth of accumulated EAs and custom indicators, and MT4 EAs cannot be directly used on MT5. If you want to use your existing EA assets, please also refer to " Comparison of Overseas Forex Brokers Compatible with MT4 "
Unless the EA you want to use is for MT4, if you're just starting out with overseas forex trading, it's recommended to choose a broker that supports MT5, which has the latest features
Top 10 Recommended Overseas Forex Brokers Compatible with MT5 [Details]
Now, let's take a detailed look at 10 recommended overseas forex brokers that support MT5 (specifications are as of August 2026 and based on each company's official website)
The ranking criteria are based on five points:① MT5 compatibility (checked individually on each company's official website), ② security (financial license and operational track record), ③ trading costs, ④ Japanese language support, and ⑤ customer reviews and reputation.
1st Place:HFM| All accounts are MT5 compatible and can be started from $5 - a truly comprehensive platform
The number one overseas forex broker to choose for MT5HFM(HF Markets).
HFMisan overseas forex broker where all account types are compatible with MT4 and MT5. Since MT5 is available regardless of which account you choose, it's easy to decide which account to use.
Established in 2010, this is a major company whose group companies hold multiple financial licenses that are difficult to obtain. While its services for Japan are registered with Saint Vincent and the Grenadines (SVG), it has a long track record of operations in Japan and is highly regarded for its reliability and security
With a minimum deposit of just $5, you can start trading with a small amount, making it ideal for beginners and advanced traders alike who want to try out overseas forex trading
| MT5 | ○ (All accounts) |
| MT4 | ○ (All accounts) |
| cTrader | × |
| Automated trading (EA) | (Copy trading is also offered) |
| Establishment | 2010 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 2,000 times |
| MT5 demo account | 〇 |
There are many account types available, allowing you to choose one that suits your needs, such as accounts for small amounts, swap-free accounts, and copy trading accounts. Account opening bonuses and deposit bonuses are also offered from time to time, and the latest information is updated monthly in the " Latest Overseas FX Bonus Campaign Ranking "
HFMis also well-regarded for its withdrawal speed, and its official websitewithdrawals can be processed as quickly as instantly, or at the latest within 10 business days. In fact, there are posts on X (a Japanese online forum) praising the speed of withdrawals.
I requested a withdrawal quite late yesterday, and it just arrived.
— Garnet @FX Information Gathering (@fx_garnet) March 30, 2025
HFMis always quick with withdrawals, which is a great help. pic.twitter.com/gRzk2RvReU
Furthermore,HFMsometimes holds demo trading contests that can be participated in using MT5 demo accounts, making it a valuable opportunity to familiarize yourself with MT5 without any risk
HFMA detailed review of can be found in " HFMReviews and User Feedback Summary "
Get great deals with cashback!
2nd Place:FXGT| Strong in Cryptocurrency x MT5 - Optimus account is MT5 only
In second place is FXGT , which is strong in cryptocurrency trading .
FXGTis an overseas forex broker established in 2019, andthat it allows trading of a wide range of cryptocurrency pairs, including BTC and ETH, on MT5. It also handles unique pairs not offered by other companies, such as the NY Dow Jones Industrial Average and synthetic pairs combining crude oil and cryptocurrencies.
What's noteworthy is that their flagshipOptimus accountis exclusively for MT5. If you meet certain conditions, such as having an effective margin of less than $1,000, you can apply leverage of up to 5,000x for major FX currencies (other accounts are limited to a maximum of 1,000x, and only Standard+ offers conditional 2,000x). This broker exemplifies the trend of newer account types becoming exclusively MT5-based.
ForFXGTis the top choice. those who want to receive a bonus and trade cryptocurrencies on MT5 for overseas forex brokers ,
| MT5 | ○ (All accounts) |
| MT4 | ○ (Other than Optimus accounts) |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2019 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 5,000x leverage (Optimus and FX Major only) |
| MT5 demo account | 〇 |
The frequent no-deposit account opening bonuses and deposit bonuses are also reasons for its popularity. Since the amounts and conditions change depending on the time of year, please check the " Latest Overseas Forex Bonus Campaign Ranking " for the latest information
Get great deals with cashback!
3rd Place:Exness| Unique features of unlimited leverage and swap-free trading
In third place is Exness , known for its unlimited leverage .
Exnesssupports both MT4 and MT5, and you can select the platform when creating an account for most account types, including Standard, Pro, Zero, and Raw Spread. Established in 2008, it has over 15 years of operating experience, and the group as a whole holds multiple financial licenses that are difficult to obtain
The biggest attraction isUnlimited leverage and swap-free stocks offered(Unlimited leverage is available, but there are conditions such as an effective margin of less than $5,000.) Certain securities, such as major currencies and precious metals, have zero swap fees, making them suitable for cost-effective medium- to long-term trading
With industry-leading narrow spreads, it's a popular choice for those who want to trade efficiently with limited capital . Free VPS usage is also available if you meet certain balance and trading volume requirements
| MT5 | 〇 |
| MT4 | ○ (Available for most accounts) |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2008 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | Unlimited (with conditions) |
| MT5 demo account | 〇 |
Unlike other companies, they don't offer extravagant bonus campaigns, but instead compete on trading conditions such as spreads and execution speed
ExnessFor a detailed review of , please see " ExnessReviews and Testimonials Summary "
Get great deals with cashback!
4th Place:Vantage| A balanced type with a maximum leverage of 2,000x and fast execution
In fourth place is Vantagewhich , balances bonuses with a good trading environment .
Vantageis a globally operating overseas forex broker established in 2009. Although it is relatively new to the Japanese market, having only fully entered it in 2022, it has a strong reputation for high-speed execution using Equinix servers and narrow spreads
It supports both MT4 and MT5, and offers a maximum leverage of 2,000x for premium accounts (1,000x for standard accounts). In addition to FX, you can also trade a wide range of instruments including stock indices, stocks, and ETFs
This overseas forex broker is suitable for traders who are looking for both bonuses and a high leverage trading environment
| MT5 | 〇 |
| MT4 | 〇 |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2009 (for Japan from 2022 onwards) |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 2,000x leverage (Premium account) |
| MT5 demo account | 〇 |
Account opening bonuses and deposit bonuses are also available. Since the amounts and conditions are subject to change, please check the latest information on the " Latest Overseas Forex Bonus Campaign Ranking "
VantageA detailed review of can be found in " VantageReviews and User Feedback Summary "
Get great deals with cashback!
5th Place: XMTrading | Top in Number of Japanese Users - MT5 is the default for initial accounts
In fifth place is XMTrading , which is widely used by Japanese traders .
XMTrading is a long-established overseas forex broker founded in 2009, operating under licenses from the Seychelles FSA and Mauritius FSC.The initial account automatically generated upon new registration defaultsto MT5, and the broker is also shifting towards operations centered around MT5.
Furthermore, if you meet the following conditions, you can use a VPS for free and stably perform 24-hour automated trading with an EA installed on MT5 (the conditions apply to trading FX currency pairs and precious metals)
- Account balance of $1,000 (or equivalent) or more
- You have a trading record of 5 standard lots (or 500 micro lots) round trip per month
With its Japanese language support and abundant information, this broker has become a popular choice for people using overseas forex trading for the first time
| MT5 | ○ (Default for initial account) |
| MT4 | ○ (Selected when creating an account) |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2009 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 1,000 times |
| MT5 demo account | 〇 |
A detailed review of XMTrading can be found in " XMTrading Reviews and User Feedback Summary "
Get great deals with cashback!
6th Place:AXIORY| Expanding its MT5-dedicated accounts, including the Terra Alpha account
In sixth place is AXIORY, which is highly regarded for its execution capabilities and transparency .
AXIORYisan overseas forex broker that supports three platforms: MT4, MT5, and cTrader. It has a long track record in Japan since launching its forex services in 2011 and operates under Belize's regulations.
The key difference lies in the support for each account type. The Zero account is compatible with all three platforms, whilethe new Terra and Alpha accounts are MT5-exclusive, indicating a shift towards a lineup centered around MT5.
It boasts a 99.99% execution rate and is characterized by its high level of transparency, publishing data on execution speed and slippage rate on its official website every month
In addition to segregated accounts, trust protection is also employed,traders who prioritize execution speed and reliability.
| MT5 | ○ (Zero/Tera/Alpha Account) |
| MT4 | ○ (Zero/Standard/Nano/Max Account) |
| cTrader | 〇 |
| Automated trading (EA) | 〇 |
| Establishment | 2011 (FX service launched) |
| Ordering method | NDD method |
| Fund management methods | Separate management/trust preservation |
| Zero Cut System | can be |
| Maximum leverage | 1,000x (MAX account offers 2,000x) |
| MT5 demo account | 〇 |
AXIORYFor a detailed review of , please see " AXIORYReviews and User Feedback Summary "
Get great deals with cashback!
7th Place:BigBoss| Up to 2,222x leverage and a variety of campaigns
Coming in at number 7 is BigBosswhich , puts a lot of effort into its campaigns .
BigBossis an overseas forex broker established in 2013 with over 10 years of experience providing services to Japan. It is popular for its complete Japanese-language customer support, leverage of up to 2,222 times , and a variety of bonus campaigns
Its distinguishing features include a deluxe account where users can acquire items through game mechanics, and its own cryptocurrency exchange, "CRYPTOS," offering services that set it apart from other companies
While the spread tends to be somewhat wide, this is suitable for those who want to reduce their actual costs by taking advantage of bonuses
| MT5 | 〇 |
| MT4 | 〇 |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2013 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 2,222x (Deluxe Account) |
| MT5 demo account | 〇 |
The latest amounts and conditions for account opening bonuses and deposit bonuses are updated monthly on the " Latest Overseas Forex Bonus Campaign Ranking " page
BigBossFor a detailed review of , please see " BigBossReviews and User Feedback Summary "
Get great deals with cashback!
8th Place:ThreeTrader| Industry's Lowest Trading Costs, Suitable for MT5 and EAs
In eighth place is ThreeTrader, which is attracting attention for its low trading costs .
ThreeTraderis a relatively new overseas forex broker that launched its services in Japan in 2021.industry-leading low spreads and trading fees. It supports both MT4 and MT5.
It has a unique rewards program where you earn points based on your trading volume, and these points can be exchanged for cash or goods. It's also well-suited for EA (Expert Advisor) trading, which involves a high number of trades
This is a strong option for those who want to use MT5 for automated trading and scalping while prioritizing cost above all else
| MT5 | 〇 |
| MT4 | 〇 |
| cTrader | × |
| Automated trading (EA) | 〇 |
| Establishment | 2021 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 1,000 times |
| MT5 demo account | 〇 |
ThreeTraderA detailed review of can be found in " ThreeTraderReviews and User Feedback Summary "
Get great deals with cashback!
9th Place: TitanFX | MT5 compatible with all accounts, high execution speed, and conditional free VPS
In 9th place is TitanFX , which is popular for its narrow spreads .
TitanFX is an overseas forex broker that has been operating since 2014 and is regulated by the Financial Services Commission of the Republic of Vanuatu.All account typesare compatible with MT4 and MT5, and it is well-regarded for its execution speed thanks to Equinix's high-performance servers.
that allows users to copy the trading methods of professional tradersTitan FX In addition to offering the proprietary app " Social" , you can also use a VPS for free , which is convenient for running EAs 24 hours a day, if you meet the following conditions
- Account balance is approximately $937.50 or more
- Traded 5 lots or more in the last 30 days
This type of broker focuses on trading conditions rather than bonuses, and is popular among short-term traders such as scalpers and day traders
| MT5 | ○ (All accounts) |
| MT4 | ○ (All accounts) |
| cTrader | × |
| Automated trading (EA) | ○ (Copy trading available) |
| Establishment | 2014 |
| Ordering method | NDD method |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 1,000x leverage (2,000x leverage for micro accounts) |
| MT5 demo account | 〇 |
A detailed review of TitanFX can be found in " TitanFX Reviews and User Feedback Summary "
Get great deals with cashback!
10th Place:Monaxa| Entering the Japanese market in 2023 - Copy trading and PAMM options available
In 10th place is Monaxa, which entered the Japanese market in 2023 .
Although its track record for services in Japan is still relatively short, it operates globally under multiple registrations and licenses, including in Mauritius.include support for both MT4 and MT5, and the option of copy trading and PAMM accounts.
The maximum leverage is 2,000x (for low-volatility instruments). A demo account with no time limit is also available, so it can be used as a practice environment for MT5 (accounts may be frozen if left unused for a certain period of time)
They continuously offer deposit bonuses, making it suitable for those who want to try overseas forex trading with a small deposit
| MT5 | 〇 |
| MT4 | 〇 |
| cTrader | × |
| Automated trading (EA) | ○ (Copy trading and PAMM available) |
| Launch of services for Japan | 2023 |
| Ordering method | NDD method (ECN account) |
| Fund management methods | Separate management |
| Zero Cut System | can be |
| Maximum leverage | 2,000x (low volatility stocks) |
| MT5 demo account | ○ (No deadline) |
Get great deals with cashback!
5 advantages of MT5
The following five points highlight the advantages of using an overseas forex broker that supports MT5:
- Faster than MT4
- You can use an Expert Advisor (EA) to automate trading
- A wide variety of timeframes are available, allowing for multifaceted analysis
- You can check economic indicators within the tool
- It is constantly updated, allowing you to use the latest features
Faster than MT4
MT5 hasFaster than MT4There are advantages
The following are some of the reasons why MT5 operates so quickly:
- MT4 supports 32-bit systems, while MT5 supports 64-bit systems
- Supports multi-core processors
- Data processing, such as chart plotting and order book information, has been optimized
Because it operates smoothly and has minimal lag, it is suitable for traders who engage in scalping or short-term trading where even small price movements can affect trading results .
You can use an Expert Advisor (EA) to automate trading
With overseas forex brokers that support MT5,you can use Expert Advisors (EAs) for automated trading,.
EA stands for "Expert Advisor," and it is software that automatically executes trades based on pre-programmed trading conditions
By installing an Expert Advisor (EA) on MT5, you no longer need to constantly monitor charts, allowing busy office workers and housewives to increase their trading opportunities. Anothertrade based on evidence rather than emotions.
A wide variety of timeframes are available, allowing for multifaceted analysis
MT521 different timeframes, more than double the 9 available in MT4, allowing for multifaceted chart analysis.
| MT4 (9 types) | MT5 (21 types) |
|---|---|
| 1-minute, 5-minute, 15-minute, 30-minute, 1-hour, 4-hour, daily, weekly, and monthly charts. | 1-minute, 2-minute, 3-minute, 4-minute, 5-minute, 6-minute, 10-minute, 12-minute, 15-minute, 20-minute, 30-minute, 1-hour, 2-hour, 3-hour, 4-hour, 6-hour, 8-hour, 12-hour, daily, weekly, monthly charts |
The availability of detailed timeframes , especially for short-term traders using scalping or short-term trading strategies, from 1-minute to 30-minute charts, is a significant advantage.
You can check economic indicators within the tool
MT5 has a "Government Indicators Calendar" feature that allows you to check economic indicators within the tool
Economic indicators are crucial information that can significantly impact the market after their release. In MT5, you can filter and view indicators by priority and currency type using the indicator calendar in the toolbox, and you can also display the release time on the chart
This feature was introduced in MT5This cannot be confirmed in MT4。
It is constantly being updated, so you can use the latest features
While MT4 has already ceased receiving updates to add new features,MT5 continues to receive regular updates, allowing you to always trade with the latest features.
Charting functions and analysis tools are continuously being enhanced, and usability is being improved. More features are expected to be added, primarily to MT5. Since the developer, MetaQuotes, also recommends migrating to MT5, MT5 has the advantage as a platform for long-term use
Three disadvantages of MT5
While overseas forex brokers that support MT5 offer many advantages, there are also disadvantages that you should understand before adopting them
- Fewer types of custom indicators and EAs available compared to MT4
- Not compatible with MT4
- There may be less historical data available compared to MT4
Fewer types of custom indicators and EAs available compared to MT4
MT5 is different from MT4There is a limited accumulation of custom indicators and EAsThis is a disadvantage
Since its release in 2005, MT4 has seen developers worldwide release EAs and indicators for over 20 years, giving it an advantage in terms of the sheer volume of free legacy assets available
However, the number of EAs and indicators for MT5 is increasing year by year, mainly through the official marketplace (MQL5 community), and in many cases, major ones have MT5 versions available
Not compatible with MT4
MT5 hasNot compatible with MT4This is a disadvantage
MT4 and MT5 are developed using different programming languages: MQL4 and MQL5, respectively. Therefore,EAs and custom indicators designed for MT4 cannot be used directly on MT5.
For those who wish to continue using their MT4 assets, choosing an MT4-compatible account rather than migrating to MT5 is a reasonable option. For more details, please refer to " Comparison of Overseas Forex Brokers Compatible with MT4 "
There may be less historical data available compared to MT4
MT5 isIn some cases, the historical data (past data) for charts may be less than in MT4There are disadvantages
MT5 chart data is generally limited to data from the time overseas forex brokers first implemented MT5, so depending on the implementation date, only a few years' worth of data may be available. If you want to perform long-term backtesting, you will need to download and add historical data separately
The backtesting and setup methods for EAs are explained in detail in the " EA Setup Guide for Overseas Forex Trading ."
Key points to consider when choosing an overseas forex broker that supports MT5
When choosing an overseas forex broker that supports MT5, keep the following points in mind
- Does it have a highly reliable financial license?
- Are the transaction costs (spreads) low?
- Are the bonuses generous?
- Are the reviews and reputation good?
- Is there ample support in Japanese?
Does it have a highly reliable financial license?
When choosing an overseas forex broker that supports MT5, it is recommended to choose one that has obtained a reliable financial license
Overseas forex brokers obtain financial licenses from different countries depending on their location, and licenses from countries with stricter licensing standards tend to be more reliable. However, it's important to be aware that some companies operate with only a registration equivalent to a corporation
However, in some cases,HFMlike withits group companies hold multiple licenses that are difficult to obtain. It's also important to check the length of experience operating services for the Japanese market.
Are the transaction costs (spreads) low?
When choosing an overseas forex broker that supports MT5, it is recommended to choose one with the lowest possible trading costs
The trading costs incurred in overseas forex trading consist of three components: "spread," "transaction fees," and "slippage at the time of execution." In particular, for trading styles with a high number of trades, such as scalping and EAs, the difference in costs directly translates into a difference in profit or loss
Additionally,by using a cashback site to receive a portion of the spread back, you can further reduce your actual costs.
Check out our ranking of recommended overseas forex brokers based on their spreads to find brokers with low spreads
Are the bonuses generous?
When choosing an overseas forex broker that supports MT5, it's recommended to choose one that offers generous bonuses
Many overseas forex brokers offer account opening bonuses and deposit bonuses. While the bonus itself cannot be withdrawn, it can be used as margin for trading, andany profits can be withdrawn. This is a unique benefit of overseas forex brokers that is not available with domestic forex brokers.
| Types of bonuses | Content |
|---|---|
| Account opening bonus | Get margin credit when you open a new account (no deposit required) |
| Deposit Bonus | You can receive margin equivalent to 20% to 100% of your deposit |
| Loyalty Program | Points are accumulated based on the trading volume |
| Referral Bonus | Get rewards for referring new customers |
Bonus amounts and conditions change frequently depending on the time of year, so it's important to compare using the latest information
Are the reviews and reputation good?
When choosing an overseas forex broker that supports MT5,also important to check reviews and reputation.
Customer reviews provide information that isn't available on the official website, such as whether or not there were withdrawal problems and the quality of supportIt's best to avoid businesses with a lot of bad reputationsis
However, since there are also negative reviews born out of spite for losing and exaggerated positive reviews for affiliate marketing purposes, don't take everything at face value and check multiple sources. Below is an example of a post on X
exnessand the spreads are incredibly narrow. There's no deposit bonus, but cryptocurrency withdrawals are instant. I can't go back to other brokers.
— HIKA (@D1pUPuFHfPUXWm9) April 28, 2025
exnesshttps://t.co/FmGovVIZBn pic.twitter.com/4gjzvMhdIl
Please also check out our ranking of highly-rated and popular overseas forex brokers, compiled based on actual customer reviews
Is there ample support in Japanese?
When choosing an overseas forex broker that supports MT5, it's especially recommended for those who are not comfortable with English to choose a broker that offers comprehensive Japanese language support
Many major overseas forex brokers offer Japanese language support, but the response times and channels (chat, email, phone) vary from broker to broker. Being able to get help in Japanese is important when you encounter problems with MT5 setup or EA installation
The support hours and channels for Japanese language support offered by each company are compiled from officially confirmed information in " A Thorough Comparison of Japanese Language Support at Overseas Forex Brokers ."
Frequently Asked Questions about Overseas Forex Brokers that Support MT5
Finally, we will answer some frequently asked questions regarding overseas forex brokers that support MT5
Which overseas forex brokers are recommended for MT5 compatibility?
For overall performance, we recommend " which offers MT5 compatibility for all accounts and allows you to start with a small amountHFM,"
If you're looking for unlimited leverage and the narrowest spreads in the industryExnessIf you want to trade cryptocurrencies on MT5,FXGTfor a comparison based on your specific needs , is a good choice. is the better option. Please refer to the table at the beginning
Which should I choose, MT4 or MT5?
If you don't have any specific preferences, MT5 is recommended because it's fast and constantly receiving new features
However, MT4 and MT5 are not compatible, and EAs and custom indicators designed for MT4 will not work on MT5. If you want to use EA assets designed for MT4, choose an MT4-compatible account from the " Comparison of Overseas Forex Brokers Compatible with MT4" page
Is MT5 available with any overseas forex broker?
MT5 isThis service is only available through overseas forex brokers that support MT5。
Most major overseas forex brokers support MT5, but some, like iFOREX, only offer their own proprietary platform. Also, even if a broker supports MT5, the platform available may vary depending on the account type, so be sure to check when opening an account
Is MT5 free?
The MT5 software itselfis available for free.
However, when trading, you will incur spreads and transaction fees payable to the overseas forex broker. Some account types, such as ECN accounts, also incur transaction fees, so please check before opening an account
Can I use MT5 with domestic FX brokers?
While some domestic FX brokers offer MT5 support,they are in the minority, and overseas FX brokers generally offer a wider range of options.
Furthermore, domestic brokers are restricted to a maximum leverage of 25 times. If you want to trade using the combination of MT5, high leverage, and zero cut, then an overseas FX broker is your option (the differences are explained in detail in " Differences between Overseas FX and Domestic FX ")
Can MT5 be used on smartphones?
MT5 can also be used on smartphones。
A free app is available for both iPhone and Android, allowing for one-touch ordering and chart analysis. While it has fewer features than the PC version, it's sufficient for placing orders, closing positions, and checking positions while on the go
Summary: Start trading in the latest environment with an overseas forex broker that supports MT5
This time, we introduced 10 overseas forex brokers that support MT5 in a ranking format
MT5 is a trading platform that succeeded MT4, with enhanced features such as faster operation, longer timeframes, order book information, and an economic calendar, and it continues to receive regular updates.FXGT's Optimus account andAXIORYsuch asaccount, are increasingly exclusive to MT5, making MT5 the top choice for anyone starting out in overseas forex trading.
If you're hesitant to jump straight into trading, feel free to try out the MT5 demo accounts offered by various companies
Furthermore, when you actually start trading, you can significantly reduce your effective trading costs by opening an account through the cashback site "Money Charger (Manecha)" and getting a portion of the spread refunded
